With governments across the world feeling the pressure to minimize emissions and protect the planet for future generations, it’s no surprise that green infrastructure spending is on the rise, with a global market expected to grow from US$52.3 billion in 2024 to US$365.4 billion in 2034.
This trend carries with it an abundance of positive consumer sentiment, as well as government incentives, including in Canada, shining a light on companies in the space well-equipped to transform these tailwinds into shareholder value.
A standout stock currently out of favour with investors, despite its underlying business’ undeniable attractiveness, is Boralex, which has been one of the most recognizable names in green energy production and infrastructure for more than 30 years spanning wind (86 per cent of capacity), solar (8 per cent) and hydro (6 per cent).
This content has been prepared as part of a partnership with Boralex Inc, and is intended for informational purposes only.
Boralex is currently France’s largest independent producer of onshore wind power, complemented by established presences in Canada and the United States, plus numerous developments in the United Kingdom, collectively representing 195 projects to date actively contributing to the fight against global warming.
Over the past five years, Boralex has increased its installed energy capacity by more than 50 per cent to 3.2 GW, growing revenue from C$619 million in 2020 to C$817 million in 2024, while increasing EBITDA from C$434 million to C$581 million, respectively, with the company expecting to deliver C$740-C$790 million in 2025. The company also generated positive net income over the period, averaging C$43.2 million per year, demonstrating management’s ability to grow in line with shareholder value.
Boralex has an additional 8.2 GW of wind, solar and energy storage projects in development and construction, a handful of which registered new milestones in Q1 and Q2 2025, putting the company on track to meet its 2030 growth plan, which intends to:
- Invest C$6.8 billion in new projects, plus C$1.2 billion for initiatives after 2030.
- Increase the company’s weighted average remaining contract duration from 11 years in 2024 to 14 years.
- Achieve a compound annual growth rate (CAGR) of operating income between 12 to 14 per cent, and a consolidated adjusted EBITDA CAGR between 7 to 9 per cent over the period.
- Double installed capacity every five years in line with net-zero operations by 2050.
Backstopped by C$689 million in cash and financing capital as of June 30, 2025, a proven project bidding strategy, and minimal reliance on debt and shareholder dilution – as detailed in the company’s investor presentation – you couldn’t be blamed for concluding that bigger and better things are in store for Boralex’s business and its investors as the green energy transition continues cutting into fossil fuel demand, whose expected peak is less than a decade away.
The broader market, however, begs to differ, viewing the company’s prospects with what seems to be unfounded pessimism, saddling investors in Boralex stock (TSX:BLX) with a 22.47 per cent loss since 2020, beckoning contrarians far and wide to step up to the plate.
Join the discussion: Find out what investors are saying about this green infrastructure stock on the Boralex Inc. Bullboard and make sure to explore the rest of Stockhouse’s stock forums and message boards.
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